Personal Finance News Digest

Online EPF Account

Like the bank account’s EPF to be rolled out as the online account from the month of October 2013. This is announced by the EPFO in this month. It is one of the most wanted features for the working sector. If one wants to know the balance on real time with EPF account, it is not possible in the current system. Earlier EPFO has launched the SMS option to know the EPF balance. This gives more confident for the employees that their retirement corpus for safe with the govt. It is not clear that whether this feature includes the trust maintained by the companies. However, if a company manage a trust for their employees provident fund contribution, it is not submitting to the govt. It seems that initially the account can show the balance till March 2013 and later they will include the real time update on the balance. This brings happy in the face of investors. Please read more details at livemint.

New RBI Governor

Raghuram Rajan is appointed as the new RBI governor from September 5, 2013. Before that he worked as the economic adviser for Prime Minister’s office. There is huge expectations from him to introduce lot of reforms on banking sector. When he took over as RBI governor, his first day itself announced list of measures to recover the economy. Investors are very positive on his capability to handle the difficult situations. However, how he could handle the political pressures is uncertain and it is going to be tough ride fro him.